A report by the Acting Chief Finance Officer provided a review of the Risk and Insurance activity during 2011/12 and plans for 2012/13. It also detailed the underwriting arrangements and recent loss histories for the principal areas of insured risk and described the impact of measures taken to improve their management. The provisions and reserves within the Insurance Fund at the end of 2011/12 were confirmed and a recommendation made for a release of resources to the General Fund.

RESOLVED: That

(1)  the Insurance Fund Budget 2013/14 be presented to Cabinet in November 2012;

(2)  the transfer of £166,352 from the Insurance Fund to General Fund balances at 31 March 2012 be agreed; and

(3)  the Risk Management reserve be restored to a balance of £150,000.